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Minnesota Republican MP Tom Emmer introduces three bills that will support the development and wider adoption of cryptocurrencies and blockchain, the technology behind bitcoin.
"The United States should give priority to accelerating the development of blockchain technology and create an enabling environment for the US private sector to lead innovation and growth, which is why I am presenting these projects," he said. announced the congressman.
Congressional blockchain caucus launched last week
Emmer, who co-chairs the new bipartisan congressional parliamentary group, said it was time for lawmakers to adopt blockchain and crypto-currencies, as these are breakthrough technologies that will revolutionize every sector of the business world. .
"Lawmakers should embrace emerging technologies and provide a clear regulatory system that allows them to thrive in the United States," said Emmer.
Here are the three bills that Congressman Tom Emmer will present:
- Resolution supporting digital currencies and blockchain technology.
- Act respecting the regulatory certainty of the blockchain.
- Safe Harbor Act for taxpayers with split assets.
"It's an exciting time for blockchain technology and crypto-currencies," Emmer said. "Together, we plan to fill the gaps in the full understanding of these new technological advances so that Congress adopts and supports all that it has to offer to the next generation and beyond."
I look forward to continuing to work with my Congressional Blockchain Caucus colleagues to support the innovation and growth of blockchain technology! https://t.co/8SXYgVL1D2
– Tom Emmer (@RepTomEmmer) September 21, 2018
The formation of the Congressional Blockchain Caucus comes shortly after the launch of a pro-crypto lobby group in Washington, DC, by three of the largest cryptocurrency companies in the United States: Coinbase, Circle and Digital Currency Group.
As the Inquisitr previously reported, the move is a clear signal that the industry is taking concrete steps to promote the widespread adoption of virtual currencies as the budding ecosystem seeks to emerge as players in the nation's capital.
The majority of finance executives say Bitcoin is here to stay
Despite a catastrophic summer for virtual currencies – punctuated by an unexpected price meltdown – an impressive 72% of financial executives are optimistic about the future of the sector and believe that virtual currencies are "here to stay".
According to a new report by Greenwich Associates, 72% of institutional asset managers, hedge fund representatives and brokers say that digital currencies are not going anywhere.
In addition, 80% of business executives surveyed believe that cryptographic regulations will soon be implemented. And here we are.
72% of financial managers believe that Bitcoin is here to stay, that they are optimistic about Cryptocurrency https://t.co/OfrKJVO5Ev @leinquisitr @samantha_chang @_richjohnson
– Greenwich Associates (@ GreenwichAssoc) September 18, 2018
It was a difficult summer for the cryptography market, which was rocked by cyber-hacking, bitcoin price manipulation investigations and regulatory crackdowns on money laundering and fraud.
Despite the inevitable upheaval of the opaque, decentralized and unregulated industry, Wall Street and the investment community are realizing that cryptocurrency and blockchain could revolutionize the banking world, channel management procurement, cybersecurity and health.
Tim Draper: Crypto Market Capitalization Reaches $ 80 Billion
As a result, bitcoin perma-bulls, like technological billionaire Tim Draper, remain extremely confident in the future of the digital currency ecosystem, despite recent relapses.
Draper – who set a price target of $ 250,000 bitcoin by 2022 – predicts that the market capitalization of cryptography will reach $ 80 trillion by 15 years, while Inquisitr reported.
Tim Draper Predicts #Bitcoin will reach $ 250,000 by 2022. He says that the # Crypto Wallet Market capitalization will eventually reach $ 80 billion ????
That's 400x where we are now ???? https://t.co/FXS3iqfZ3Q
– CryptoCurrency News (@CryptoBoomNews) September 16, 2018
"It's bigger than the Internet. It's bigger than the Iron Age, the Renaissance, "said Draper. "It's bigger than the industrial revolution. It affects the whole world and it will be affected more quickly and more widely than you have ever imagined.
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